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Here's a look inside Bobby Berk's wallet and the best financial advice he's received

It should come as no surprise that Bobby Berk from "Queer Eye" keeps a tidy wallet. After all, Berk is the show's design expert, helping to remodel and organize an array of homes and other spaces.

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Bobby Berk
Courtesy of A.R.T. Furniture
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It should come as no surprise that Bobby Berk from "Queer Eye" keeps a tidy wallet. As one of the Fab 5 on Netflix's hit series, Berk is responsible for remodeling and organizing an array of spaces, from personal home to teachers' lounges and more.

When Berk isn't working on "Queer Eye" (the latest season was filmed in Japan), he also has a furniture line and a burgeoning lifestyle brand. Select caught up with the busy home designer by phone to discuss what he carries in his wallet and the best financial advice he's ever received.

What's in Bobby's wallet

"My wallet is, unsurprisingly, quite tidy and boring," Berk tells Select. "I am not one to like a bunch of crap in my wallet."

Berk keeps just the essentials in his wallet: He carries two American Airlines branded credit cards, a debit card, license and Costco membership card. Berk had a Priority Pass card in his wallet, but in the course of our conversation decided to remove it since he has a digital version, which helps keep his wallet clutter-free.

There's one more thing Berk carries in his wallet, and it comes from Chipotle: "Bobby Berk's custom made, handcrafted, responsibly raised, sustainably grown burrito card."

This card entitles Berk to a free burrito every day for the rest of his life. Berk explains that each member of the "Queer Eye" Fab 5 received this exclusive Chipotle card last year.

Practice good financial habits

"Pay your credit card off, or down as much as you can, before your statement ends," Berk urges.

Payment history is the most important factor of your credit score, and it's also key to have a low credit utilization rate (CUR). This is the combined balances across all your credit cards divided by your total credit limit on all cards. Most credit experts recommend that your CUR is not more than 30%.

"If you have a $10,000 limit on your card and you've spent $9,000 that month, [your bank] will report that you have used 90% of your available credit, which is not a healthy ratio," Berk says. In this situation, it would be ideal to limit spending to $3,000 a month so your utilization is 30% or less.

If you maintain a low CUR and make consistent, on-time payments you may see a raise in your credit score.

Live within your means

"The unsolicited financial advice that my parents gave me was live within your means," Berk says.

Berk explains that he didn't grow up wealthy, but instead lived in a humble home. He mentions that his parents didn't care to "keep up with the Joneses." They didn't overextend themselves on credit to buy a fancy house or purchase the newest car. Instead, they bought whatever they could afford to buy with cash.

Berk says that while he didn't think too deeply about how his parents spent money when he was younger, he later realized that they were making really great financial decisions. And that advice is a big help in the age of Instagram.

"You look on social media and everyone's taking gorgeous vacations and this and that, and you're like, 'Oh, I want that Instagram photo, too,'" Berk says. But he warns against falling for that trap.

If you spend above your means — racking up credit card debt while not prioritizing an emergency savings, for example — you risk falling on hard times if you ever lose your job or face some other kind of personal emergency.

"If you make sure that you're living within your means, eventually your means will get better and better," Berk says.

This story is part of Select's What's in Your Wallet series, which profiles celebrities and media personalities on the contents of their wallet and the best financial advice they've received.

Don't miss: Here's a look inside Olympic medalist Lindsey Vonn's wallet

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.